Reducing your tow truck insurance is different from lowering your personal vehicle premium. After all, your personal car isn’t involved in risky activities like tow trucks are.
Put simply; tow truck insurance is typically higher compared to that of private cars and delivery vans. And because a tow truck comes in contact with other trucks by design, its liability is trickier. Towers have to operate large trucks hauling broken down vehicles; therefore, they’re responsible for transporting them safely to the desired location. Insuring the towing business can be risky and expensive due to accidents and rising claims.
Fortunately, you can rely on certain savings tips to reduce your tow truck insurance. Keep on reading to learn more.
How to Save on Tow Truck Insurance
Lock Your Truck
Note that your truck’s safety is a crucial factor to help lower your insurance premiums. If you park it in a high crime area, you might have to pay more in insurance premiums. The same goes for keeping your truck locked in a safe compound or garage.
For instance, you can have the keys locked somewhere in a safe place or park the vehicle in a building that is equipped with cameras and alarms. In short, keeping your vehicle in a secure place can help reduce premiums.
Use Rear Dash and Front Cams
Having claims against your vehicle is bad for your reputation. It is even worse if you’re not at fault. This is when the role of dash cameras comes into play. These can document proof showing that you’re not responsible for an accident. However, the camera can also prove that your truck driver was reckless. Having cameras is a good way to keep your towers accountable for their actions and practice safe driving.
A dashcam on the back of a vehicle has a similar function as well. It can record accidents and errors. If the towed vehicle is damaged on the way to the shop a camera can prove whether or not it was the operators fault.
A Favorable Claims and Business History
Some insurers use their popularity and established reputation on the market as leverage. However, it rarely makes any difference unless you have to deal with an agent. You need to have a favorable claims or business history to earn lower tow truck insurance.
Hiring drivers with clean records can play an important role in finding cheaper quotes. Clean records show that he or she follows all the safety protocols and has good training. Though anyone can make mistakes, it depends on you to set effective rules and train your drivers to mitigate the risks. You need to be proactive in terms of vehicle safety to avoid accidents and mishaps.
In conclusion, though the cost of tow truck premiums varies greatly, you can use the tips mentioned above to lower it or at least make it affordable. Thus, it’s always best to discuss with your insurance agent before implementing anything.